Market Overview

Mid-Morning Market Update: Markets Mostly Higher; Home Depot Profit Tops Expectations

Share:

Following the market opening Tuesday, the Dow traded up 0.02 percent to 25,393.10 while the NASDAQ climbed 0.71 percent to 7,251.64. The S&P also rose, gaining 0.44 percent to 2,738.16.

Leading and Lagging Sectors

Tuesday morning, the financial shares climbed 1 percent. Meanwhile, top gainers in the sector included Third Point Reinsurance Ltd (NYSE: TPRE) up 7 percent, and Ladenburg Thalmann Financial Services Inc. (NYSE: LTS) up 5 percent.

In trading on Tuesday, energy shares fell 1 percent.

Top Headline

Home Depot Inc (NYSE: HD) reported better-than-expected earnings for its third quarter and raised its full-year outlook.

Home Depot posted Q3 earnings of $2.51 per share on sales of $26.3 billion. However, analysts were expecting earnings of $2.27 per share on sales of $26.25 billion.

The company now projects full-year profit of $9.75 per share and sales to rise by around 7.2 percent.

 

Equities Trading UP

Globus Maritime Limited (NASDAQ: GLBS) shares shot up 16 percent to $9.14 following Q3 results. Globus Maritime reported third-quarter earnings of 0.08 per share, up from $(0.05) in the same quarter of last year. Sales came in at $4.861 million, up from $3.982 million year-over-year.

Shares of Beazer Homes USA, Inc. (NYSE: BZH) got a boost, shooting up 22 percent to $10.14 after the company reported better-than-expected Q4 results.

Servotronics, Inc. (NYSE: SVT) shares were also up, gaining 21 percent to $12.00 following Q3 results. Servotronics reported Q3 earnings of $0.61 per share on sales of $12.77 million.

 

Equities Trading DOWN

EverQuote, Inc. (NASDAQ: EVER) shares dropped 39 percent to $7.2999. EverQuote posted a Q3 loss of $0.15 per share on sales of $41.75 million.

Shares of Youngevity International, Inc. (NASDAQ: YGYI) were down 15 percent to $7.0401. Youngevity posted a Q3 loss of $0.46 per share on sales of $39.08 million.

HC2 Holdings, Inc. (NYSE: HCHC) was down, falling around 20 percent to $4.03 after the company reported a $470 million senior secured notes private offering and a concurrent $55 million convertible senior notes private offering.

Commodities

In commodity news, oil traded down 1.55 percent to $59.00 while gold traded down 0.14 percent to $1,201.80.

Silver traded up 0.14 percent Tuesday to $14.03, while copper rose 1.14 percent to $2.707.

 

Eurozone

European shares were higher today. The eurozone’s STOXX 600 climbed 0.44 percent, the Spanish Ibex Index rose 0.44 percent, while Italy’s FTSE MIB Index surged 0.41 percent. Meanwhile the German DAX rose 0.81 percent, and the French CAC 40 rose 0.45 percent while U.K. shares rose 0.05 percent.

Economics

The NFIB small business optimism index fell 0.5 point to a reading of 107.4 for October.

The Johnson Redbook Retail Sales Index rose 0.2 percent during the first week of November versus October.

The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.

The Treasury will auction 4-and 8-week bills at 1:00 p.m. ET.

The U.S. Treasury budget report for October is schedule for release at 2:00 p.m. ET.

San Francisco Federal Reserve Bank President Mary Daly will speak in Boise, Idaho at 5:00 p.m. ET.

Posted-In: Mid-Morning Market UpdateNews Eurozone Commodities Global Intraday Update Markets

 

Related Articles (BZH + EVER)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Cronos Group's Revenue Nearly Triples In Q3

This Day In Market History: Ed Thorp Launches Convertible Hedge Associates